Kirloskar companies tussle over right to claim 130-year legacy - Economic Times

A tussle is brewing again in the Kirloskar family after Kirloskar Brothers Limited (KBL), chaired by Sanjay Kirloskar, objected to the mention of the 130-year legacy of the company by other Kirloskar companies led by Atul and Rahul Kirloskar.

In a letter to markets regulator Sebi and the stock exchanges, KBL has staked exclusive claims over the legacy of the Kirloskar name.

Companies led by Atul Kirloskar and Rahul Kirloskar had earlier this month launched a new group strategy and also adopted a new logo. The companies include Kirloskar Oil Engines Limited, Kirloskar Industries Limited, Kirloskar Pneumatic Company Limited and Kirloskar Ferrous Industries Limited.

As part of the advertising campaign for this, the companies drew upon the 130-year legacy of the Kirloskar name.

"While the logo has elements of human-centricity and future-readiness, the colours allude to the legacy that the 130-year-old name carries," read a part of the press release by Kirloskar Oil Engines Limited (KOEL).

KBL has contested this statement arguing that it was the first company established by Laxmanrao Kirloskar in 1888 and thus the only one with a 130-year history.

The other camp argued back saying that they have only mentioned the legacy of the Kirloskar name and not any particular organisation.

"We would like to point out that each of these companies are a part of the 'Kirloskar Group' that was founded by 'Mr. Laxmanrao Kashinath Kirloskar' the great grandfather of Mr. Atul Kirloskar, Mr. Sanjay Kirloskar and Mr. Rahul Kirloskar, each of whom are the 4th generation of the Kirloskar family and are promoters of each of these companies as well as that of Kirloskar Brothers Limited," the four companies said in a joint press statement.

This is not the first time that the brothers have publicly exchanged punches. There is an ongoing feud amongst the fourth generation of the industrialist family over a deed of family settlement pertaining to assets of the group. Atul and Rahul along with the rest of the family are on one side and their brother Sanjay Kirloskar is on the other.

Last year, a company controlled by Atul and Rahul Kirloskar had blocked the re-appointment of an independent director to KBL’s board.

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Kirloskar companies tussle over right to claim 130-year legacy - Economic Times
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